“For the past decade or longer, politics took precedence over the economics of running the country”

Interview: Rajeev Hasnah, Economist

* ‘The money illusion and debt-hungry games played since 2019 unfortunately have an expiry date, which is not very far in the future’

* ‘Having to deal with crises be it economic, political or climatic is now the new normal’

Rajeev Hasnah sheds light on a perplexing revelation from the 2024 World Happiness Report: Mauritian youths exhibit unprecedented levels of discontent compared to older generations. In a candid discussion, Hasnah attributes this divergence to economic disparities and a sense of entitlement, urging policymakers to prioritize inclusive growth and fiscal prudence. As Mauritius faces economic and other challenges now and in the years ahead, Rajeev Hasnah’s insights as an economist provide valuable guidance for steering the country toward stability and sustainable growth.

Mauritius Times: Referring to the 2024 edition of the World Happiness Report recently published by the UN Sustainable Development Solutions Network, Visual Capitalist reports that Mauritian youths (under 30 years old) are seemingly the most discontented demographic compared to older generations worldwide. This assertion may seem incredulous unless we are closely monitoring societal trends. What are your thoughts on this matter?

Rajeev Hasnah: The results of the World Happiness Report are enlightening and revealing from several perspectives for Mauritius both on its own and in comparison with other countries. While for the overall indicator, Mauritius ranks 70th out of 143 countries, the results are at extreme ranges when we apply the age filter. For those above 60 years old, Mauritius ranks 28th, which puts the country among the likes of France, Singapore, and Spain, whereas for those aged below 30 years old, Mauritius ranks 85th, which puts the country in the company of South Africa, Venezuela, and Ukraine (Venezuela’s and Ukraine’s rank are even better at 83rd and 82nd respectively).

Visual Capitalist ranks Mauritius as Number 1 in the world for the gap in the ranking between those aged above 60 years old and those aged under 30 years old. This disparity is quite shocking as while the level of happiness of old people is similar to that of those living in Singapore and France on one hand, the level of happiness of the young category is similar to those living in Venezuela, which is considered as an authoritarian regime by The Economist, and Ukraine, which is a country currently at war with Russia since February 2022! Read More… Become a Subscriber

Mauritius Times ePaper Friday 31 May 2024

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